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Posted: 12/9/2005 12:30:50 PM EDT
I would like to set up a Roth for an infant. A friend is willing to pay her to model in his buisness advertising. What does the infant need to set up a ROTH ? (W-2)? Have any of you found a legal way of establishing the needed earned income requirement for an infant ROTH. thank you in advance BSAFE.
Link Posted: 12/14/2005 8:20:55 AM EDT
I'm not a tax adviser first off.

Generally, investment accounts can not be opened by persons under the age of majority.

You dont list the infant as a dependent? The infant files their own taxes?

While no age LIMIT exists for Roth applicants, I did not see an age minimum.



IMO, I don't believe you can open a Roth for your infant, even if infant has income and files individual tax.
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